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CALCULATION OF CONTRIBUTION
How is the registered provider’s contribution calculated
Their contribution is based on:
- an adjustment for any variance between the provider’s estimated and actual overseas student fee income for the period 1 January to 31 December 2007, calculated in accordance with the 2007 Contributions Criteria, and
- an amount relating to the provider’s contribution to the Fund for the year ending 31 December 2008, based on estimated overseas student fee income, calculated in accordance with the 2008 Contribution Criteria.
Please be advised that the 2008 contributions are only an estimate based on the PEO’s submission. Providers will receive an adjustment in their 2009 Fund Contribution to take into account the difference between actual and estimated overseas fee income for the year ending 31 December 2008.
Please be advised that registered providers have 30 days from the date of their contribution invoice to pay their annual contribution to the Fund. Payment may be made by cheque or direct debit. Where payment is not made within the required timeframe, providers will be issued with a reminder notice and will incur late payment penalties. If the contribution is not paid within a further 7 days of the reminder notice, the provider will face suspension from CRICOS by the Department of Education, Employment and Workplace Relations (DEEWR). Suspended providers are unable to enrol new students, commence new courses or collect course monies from students. Once the provider’s Fund Contribution is paid, the provider’s Fund Contribution will need to be reinstated by DEEWR. |
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